Jan 5 (LNGJ) - Occidental Petroleum Corp., whose main shareholders include US investor Warren Buffett, said it had paid off debts after also completing a $3 billion share repurchase program. “During fiscal year 2022, Occidental repaid over $10.5 billion of debt, including over $1.1Bln in the fourth quarter, reducing the face value of its debt to below $18Bln,” said the company.
Occidental added that the December winter storm in the US affected production. “While normal operations have resumed, average Permian Basin and Rockies production in the fourth quarter is expected to be impacted by a combined 10,000 barrels equivalent per day. Occidental also holds stakes in Algerian oil and natural gas fields.
